I conversed with two last week, and it struck me how different they are in communication preferences.

Client one, who we’ll call John, is old school. John not only calls me on the phone, he’s one of those people who insists on phone conversations all the time. Trust me, if you don’t have a phone that gets answered, you have almost no shot at doing business with John. 

It’s not that John can’t use e-mail – he will if he must. But he doesn’t like to write, so his answers are brief, and he’ll say “just call me and I’ll explain it”. John once told me he wouldn’t hire a landscaper because the guy texted him back after John called him. He’s like that.

Now let’s go to client two, who we’ll call Pete. I’ve done business with Pete for years, and we’ve spoken maybe two times. Pete simply does not like to talk on the phone – we can have week-long conversations via e-mail, and understand everything just fine. In fact, if you *can’t* carry on an extensive e-mail conversation (sometimes covering two or three subjects), your chances of doing business with Pete are low. I’m pretty sure if Pete has a landscaper, it’s someone he hired via e-mail. 

Most people are not as hardcore as these two, and fall somewhere in the middle. But (and you’re probably wondering what this has to do with equipment financing) it illustrated to me how important it is to satisfy both types. 

Sure, we answer calls, but a few years ago, we developed a self-assessment (it’s right at the beginning of our homepage at www.crestcapital.com) where prospective customers could check their eligibility without contacting us – it has proven very popular. 

For the person who likes the phone, it can still give them a good idea if they qualify, and save them time.

And for that client who does not want to converse? It’s tailor-made for them, because they can apply right away, and even get an approval via e-mail. And while we do call and speak to clients at the listed business number before funding (that’s simply prudent), we often finance deals with minimal phone contact. The “Pete’s” of the world really appreciate that. 

Whatever your business, you probably deal with both John and Pete. And while the number of Pete’s is increasing, neither is wrong, and satisfying both is one important way to differentiate yourself. 

These are short (30 seconds to a minute and a half) recorded testimonials from real clients, all over the United States, and there are well over 100 of them. You can see the entire list here.

I realized I haven’t heard these in a while, so I spent some time listening to a bunch of them. And something really struck me as I listened to the different voices and accents from all over the country: THIS is the Sound of Small Business USA. 

Seriously, we have a walk-in freezer financed in Florida. This was for a Carvel store. 

A bit further down the list, we have snow removal equipment financing for a company in Utah.  Then there’s a boom lift financed for a campground in California (that one is funny because he goes into detail about all the collateral his bank wanted, which is why he came to us.)

More? How about a CAD/CAM Machine financed for a race design shop in Arizona? Or some equipment for a angus beef cattle ranch in northern Florida (so we’ve got both the main course and dessert covered in the Sunshine State… oh, we financed some equipment for a winery there too – it’s a full meal!)

One of the neat things about equipment financing is the types of businesses that we work with. Listening more to the list, we financed some equipment for a microscope service in Illinois. Did you even realize there are small businesses that deal only in microscopes? And while we’re on “science”, we’ve got lab testing equipment financing in Ohio, and mobile medical imaging equipment financed for a nuclear tech company in Maryland. 

This is just scratching the surface – we have thousands and thousands of customers. But even in a small sample of 100+, I am struck by the variety of industries, never mind the regional accents and speaking mannerisms.  The sheer diversity of our customers and company types is staggering, and it’s a joy to hear their voices.

The next time the news gets you down, click that link above in this post and give a listen to a few. I guarantee you’ll feel better. 

It’s September 2019, and that’s an important milestone for us. Because Crest Capital started business in September of 1989, which makes us… 30! 

30 years is a very solid milestone for a business. To make 30 years, you need tenacity, a clear vision, a commitment to great service, and maybe even a little luck. And we’ve had all of those in our three decades.

Of those, a commitment to great service is the biggest key. Because every business needs customers, and it’s rare to see a business survive long-term relying on only new customers. To survive years and decades, you need customers that come back again and again, and tell others as well. And happy customers do exactly that. 

We’ve built our reputation on speed and ease. Since our first days in 1989, we got small businesses approved for financing fast, and without reams of paperwork or crippling restrictions. We became an oasis in an industry otherwise known for slow approvals and excessive liens. Our customers got the equipment financing they needed fast, with personal service, and easy terms. And when they needed more equipment, an overwhelming percentage came back. In fact, looking over our files, some of our customers have been with us since the beginning, and that makes us very proud.

We’ve seen a few changes too. When we began, there was no commercial internet, so faxes and overnight courier were stalwarts. They’re still with us, but of course, e-mail has taken over as the communication workhorse. Our website works super hard as well, and we’ve extended this technology to our vendor partners, manufacturers and distributors. This way, they can offer branded “monthly payments available” right on their own websites. Their customers can get a payment quote and apply for financing immediately, which makes a big difference in their sales. 

But all this tech talk doesn’t mean it’s all 0’s and 1’s. We still have real people answering the phones, and keep that personal contact with our customers. Because a friendly voice always helps. In thirty years, that hasn’t changed one bit.

Another large part of making it to thirty years is not only the people we’ve served, but also the people we work with. We’re proud to be a place people want to work, and it’s apparent in everyone’s performance. In plain terms, happy employees are better employees, and better employees serve customers better.

Will we make it another thirty years? We think so. That’s the plan anyway.

Right now, the limit on the deduction is still $25,000, plus an adjustment for inflation. Last year, it was $500,000. Bummer, right? Well, not necessarily so.

First of all, for many small and medium businesses, a $25,000 deduction is just fine. In fact, a great majority of Section 179 users never even hit that number, so many, many businesses remain unaffected. If you were contemplating buying a $20,000 piece of equipment, the current levels of Section 179 will work just fine for you.

But again, even for larger businesses / purchases where these lower limits are a concern, I say “don’t worry about it”. Every year this has happened, the federal government has swooped in and raised the limit. And yes, it has happened late in the year. In fact, they have even done it retroactively. This last happened in 2013, where they went and raised 2012’s limits. This made many businesses and accountants happy, of course. There’s nothing like getting free money after the fact. And accountants need something to do after April 15th.

So if you need new equipment, don’t put it off trying to predict what will happen with Section 179 this year. Because even if it doesn’t get raised this year, history suggests that if/when 179 gets raised next year, it will be made retroactive. So predicts Fletch.